Insider Selling: Element Fleet Management Corp. (TSE:EFN) Director Sells 25,000 Shares of Stock

Element Fleet Management Corp. (TSE:EFN) Director George Keith Graham sold 25,000 shares of Element Fleet Management stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of C$24.70, for a total transaction of C$617,500.00.

Element Fleet Management Stock Performance

Shares of Element Fleet Management stock opened at C$24.56 on Thursday. The company has a quick ratio of 5.70, a current ratio of 6.78 and a debt-to-equity ratio of 280.50. Element Fleet Management Corp. has a twelve month low of C$18.50 and a twelve month high of C$24.99. The stock has a market cap of C$9.56 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 2.97 and a beta of 0.83. The company’s fifty day moving average is C$22.28 and its 200 day moving average is C$22.07.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings results on Tuesday, February 27th. The financial services provider reported C$0.33 EPS for the quarter, beating analysts’ consensus estimates of C$0.32 by C$0.01. The business had revenue of C$333.36 million for the quarter, compared to analysts’ expectations of C$334.92 million. Element Fleet Management had a net margin of 23.38% and a return on equity of 12.30%. Sell-side analysts forecast that Element Fleet Management Corp. will post 1.0547496 EPS for the current year.

Element Fleet Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.95%. Element Fleet Management’s dividend payout ratio (DPR) is currently 43.24%.

Wall Street Analysts Forecast Growth

EFN has been the topic of a number of research reports. National Bankshares boosted their target price on shares of Element Fleet Management from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. TD Securities boosted their target price on shares of Element Fleet Management from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. BMO Capital Markets boosted their target price on shares of Element Fleet Management from C$26.00 to C$28.00 in a research note on Thursday, May 16th. Scotiabank boosted their target price on shares of Element Fleet Management from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Finally, CIBC boosted their price objective on shares of Element Fleet Management from C$25.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Element Fleet Management presently has a consensus rating of “Moderate Buy” and an average target price of C$28.50.

Element Fleet Management Company Profile

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, Mexico, Australia, and New Zealand. The company offers end-to-end fleet cars, trucks, and material handling support equipment acquisition; and end-to-end electric vehicle fleet including fleet planning, charging infrastructure solutions, acquisition, financing, maintenance, and remarketing.